Deposits vs. Payments



  • Bharat Choudhary


    Can we move previously receipted payments or credit notes (sitting as credits in debtor accounts) to treat them as a deposit for future events? If so could you advise the process to configure the receivable transaction type?

    I have seen the 'deposit' transaction type has an additional GL entry option perhaps if you could explain how this works in addition to the GL distribution.



  • Patrick Tenny

    The Deposit transactions are designed to create 2 entries. First transaction (GL Distribution) occurs when deposits received (DR Cash - CR Advance Deposit). The second transaction (Deposit GL) occurs the order is Invoiced (DR Advance Deposit - CR Accounts Receivable). You should seek advice from your consultant for best practices or  if you are using payment plans.

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